Resona Asset Management Co. Ltd. Takes Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Resona Asset Management Co. Ltd. purchased a new position in The Goldman Sachs Group, Inc. (NYSE:GS) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 91,732 shares of the investment management company’s stock, valued at approximately $52,574,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stephens Consulting LLC acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter worth approximately $26,000. Asset Planning Inc bought a new position in The Goldman Sachs Group during the 4th quarter valued at $29,000. Curio Wealth LLC acquired a new position in The Goldman Sachs Group during the 4th quarter worth $30,000. Whipplewood Advisors LLC bought a new stake in shares of The Goldman Sachs Group in the 4th quarter worth about $34,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Down 8.1 %

Shares of NYSE:GS opened at $469.57 on Friday. The company has a 50 day moving average of $597.54 and a 200-day moving average of $572.76. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The firm has a market cap of $146.52 billion, a P/E ratio of 11.58, a P/E/G ratio of 0.89 and a beta of 1.33. The Goldman Sachs Group, Inc. has a twelve month low of $387.12 and a twelve month high of $672.19.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.21 by $3.74. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The firm had revenue of $13.87 billion during the quarter, compared to analyst estimates of $12.36 billion. During the same period last year, the company posted $5.48 EPS. The firm’s quarterly revenue was up 22.5% on a year-over-year basis. As a group, analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, February 28th were given a dividend of $3.00 per share. The ex-dividend date was Friday, February 28th. This represents a $12.00 annualized dividend and a dividend yield of 2.56%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 29.59%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wells Fargo & Company decreased their price target on The Goldman Sachs Group from $720.00 to $680.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Keefe, Bruyette & Woods downgraded The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $690.00 to $660.00 in a report on Thursday, February 27th. Oppenheimer lowered The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 19th. Citigroup decreased their price objective on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Finally, Daiwa Capital Markets downgraded shares of The Goldman Sachs Group from an “outperform” rating to a “neutral” rating and set a $560.00 price target on the stock. in a research report on Friday. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, The Goldman Sachs Group has a consensus rating of “Hold” and a consensus price target of $589.19.

Insider Activity

In related news, CAO Sheara J. Fredman sold 2,034 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $627.01, for a total value of $1,275,338.34. Following the transaction, the chief accounting officer now owns 6,455 shares of the company’s stock, valued at approximately $4,047,349.55. This trade represents a 23.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Treasurer Carey Halio sold 1,545 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $624.67, for a total transaction of $965,115.15. Following the sale, the treasurer now directly owns 8,192 shares of the company’s stock, valued at $5,117,296.64. This represents a 15.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,925 shares of company stock worth $12,630,683. Corporate insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.